Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Ron Paul
  • Bank Credit & Money
  • Dick Young’s Safe America
  • Your Survival Guy’s Super States
  • Critical Race Theory
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money

Hit the Russian Oligarchs with the Magnitsky Act

March 14, 2014 By Richard C. Young

Here The Wall Street Journal editors describe possibilities for punishing Russia for its invasion of Ukraine without firing a shot.

Any counterpunch by the West needs to hit close to Mr. Putin with financial sanctions. Mr. Obama could expand the number of Russians covered by the 2012 Magnitsky Act, which bans human-rights abusers from traveling to or banking in the U.S. His refusal to expand the Magnitsky list as promised in December was the latest signal of this Administration’s lack of concern for bad Russian behavior.

As with Iran, the U.S. can deny Russian banks access to Western capital markets. The G-7 can impose quotas on imports of Russian metals, grain and possibly energy. These sanctions would push the Russian economy, set to grow 1% this year, into recession and “sharply” weaken the already weak ruble, according to Moscow-based Renaissance Capital.

Rich Russians keep most of their money in Europe’s banks, live in its capitals and send their kids to its schools. Punish Mr. Putin’s circle with asset freezes and travel restrictions and you endanger his regime. Four-fifths of Russia’s inward direct investment comes from the EU; half its exports go there. Vice President Joe Biden did something possibly useful this week by calling the president of Cyprus. This favorite Mediterranean destination for Russian capital is an important ally in opening up the financial front against Mr. Putin.

Europeans could also stop turning a blind eye to money laundering from the east. Earlier this week Austria arrested a Ukrainian energy oligarch closely connected to Moscow who is wanted in the U.S. A similar attitude adjustment toward rich, Kremlin-connected Russians is overdue across Europe, especially in the city often known as Londongrad.

Russia can also be squeezed through the international courts for absorbing Crimea. The Ukrainian government needs a legal strategy to file claims for billions of dollars in state and private property lost to Russia’s occupation. Aeroflot planes, overseas accounts and government real estate may be war reparations for Kiev one day.

Related video:

If you’re willing to fight for Main Street America, click here to sign up for my free weekly email.

Related Posts

  • Russian Oligarchs: Name the Names, Freeze the Accounts
  • S.2277 the Russian Aggression Prevention Act of 2014
  • The Russian Witch Hunt
  • Author
  • Recent Posts
Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
Latest posts by Richard C. Young (see all)
  • The Most Controversial Restaurant in Paris? - June 24, 2022
  • La Fontaine De Mars: Best Sunday Paris Lunch - June 23, 2022
  • Dick & Debbie Young’s Most Visited Paris Restaurant - June 22, 2022

Dick Young’s Must Reads

  • “The Goal”: Strong Families, Resilient Faith, Thriving Middle Class.
  • The Masters of the Universe Align Themselves with CHINA Using YOUR Money?
  • Progressive Liberalism Has Dragged America near Ruination
  • WAR HAS BEGUN: What Advice Are You Giving Your Loved Ones?
  • Making America Great Again Is What America Wants
  • “I’ve Got Guys Buying Guns/Ammo for Me All Through the Night.”
  • “The Losses are Taking a Toll on Their Health”
  • The Three Best Retirement Decisions I Ever Made
  • Does Big Government Create Poverty?
  • A Cashless Society Is A Debacle for Americans

Disclosure

RSS Youngresearch.com

  • Your Survival Guy: Clearing the Decks, Buying a Boat, Seeing the World and More
  • Is the Great Job Boom Over?
  • Here’s Why You Need a 15-Year Retirement Investment Plan
  • Will ESG Do to Steel Prices What It Did to Gas Prices?
  • Kellogg Cuts Loose with Split Plan
  • Apple Shares Resilient in the Face of Recession
  • MONEY TALKS: The Best Service in Paris
  • Predictions of MEGA-SPENDING on Metaverse
  • RECESSION? Dow 25,000, $8 Gas, Rising Interest Rates, Spell Mid-term Crack Up
  • Investing During a Recession

Greetings From Paris & Le Bristol Hotel

The Most Controversial Restaurant in Paris?

Your Survival Guy: Clearing the Decks, Buying a Boat, Seeing the World and More

Russia’s “Unsubtle” Artillery Attacks Not Necessarily “Archaic”

FLORIDA DODGED A BULLET: Elected Superb DeSantis Over Unstable Gillum

Biden, a Job Killing Machine

Copyright © 2022 | Terms & Conditions | About Us | Dick Young | Archives